China announced today that it will limit oil exports to North Korea under UN sanctions over its nuclear and missile development, further reducing support from Pyongyang's last major trading partner, energy supplier and diplomatic ally. <br/><br/>The Commerce Ministry said exports of refined petroleum to the North will be limited to 2 million barrels per year and sales of liquefied natural gas banned outright, effective January 1. <br/><br/>The Ministry said China also will ban textile imports from the North. Textiles are one of the North's last major sources of foreign revenue following repeated rounds of UN sanctions under which Beijing cut off purchases of coal, iron ore, seafood and other goods. <br/><br/>China accounts for some 90 per cent of the North's trade, making its cooperation critical to any efforts to derail Pyongyang's development of nuclear weapons and long-range missiles.
News On AIR | September 23, 2017 11:27 AM
China imposes limit on oil supply to North Korea